Loan Comparison: 6.99% vs 6.5%
1983 Xenia Way, Denver, CO 80231 · 3bd/4ba · $429,900
List Price
$429,900
Assumable Rate
6.99%
Remaining Balance
$401,763
Equity Gap
$28,137
Loan Type
FHAAdjust Your Scenario
$21,495
$21,495$28,137
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.99% (FHA)
Blended Rate: 7.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 6.99% + gap loan
$2,717/moAssumed loan: $2,670/mo
Gap financing: $46/mo
Your Savings on This Property
1983 Xenia Way, Denver · 6.99% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($28,137) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($6,642 at 7.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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